Originally posted by old rugged cross:Trying to promote bidding. Plain and simple. It is a sad state of affairs anymore. Yeah and I know all of the arguments in favor.

Seems to me that trying to promote bidding would be all the argument you need. Not sure why that would be a sad state of affairs. Nevertheless I disagree that trying to get bidding is the reason at all.

The sign of coming soon, without an MLS listing, certainly lowers the potential buyer pool to those that see the sign and follow up. MLS will get to the most buyers. So your argument doesn't really hold water. It would seem to me that coming soon signs are to promote interest while a seller prepares to list. My girlfriend frequently gets clients that want a market analysis. She then tells them what they need to do to get ready to list (repairs, cleaning, etc). Then the property is "coming soon" (although my GF doesn't use those signs as far as I know, I'll ask her).

A listing agent is required to have the best interest of their client. That means getting highest and best offer. If coming soon does that, great. But then again if someone calls before it's listed and makes a purchase the seller has no real idea if they got the best offer.

If you advertise an item for sale you should be willing to sell it at the advertised price.

If you want to sell an item to the highest bidder, then hold an auction.

That simply isn't how real estate works. Anyone that goes in expecting to have a full price offer accepted just doesn't know what they are doing (in a seller's market). There is a lot more than price. When realtors say "highest and best", best means a lot. A full price cash offer is the best unless there is a higher price cash offer. Closing date can be a deal breaker. VA of FHA financing is often a deal breaker. Down payment amount, home inspection requirement, etc. There are tons of things that go into a real estate deal that mean more than the price alone.

Originally posted by old rugged cross:fraye, I am sure you are not the only one on here that knows the in's and out of selling RE. Including those that have posted in this thread.

I'm not sure what the purpose of your post is. Should I not share what I know because others know stuff too?

Anyhow, I'm going to share because I just got a little more info from the GF. There are many reasons for "Coming Soon". For example she has one that is new construction, the builder does not yet own the land and so he can't list it officially. The land deal is moving forward.

Coming Soon is listed in MLS, so this isn't to keep others from seeing it. Although a seller can enter a contract with "coming soon" and not list in MLS yet, but that's up to the seller. Apart from that the reasons are similar to what I said before, not ready for showings for some reason.

MY GF said the main reason she sees more of these now is that there is low inventory. Sellers want the interest being generated as early as possible so, as you said, they get maximum bids. So I was definitely wrong on that (but I didn't realize they are in MLS as coming soon).

A bunch of scheming fucks scratching each others backs, wanting a ton of money for nothing.

I hate them all and do anything to minimize use of any of them.

I used to think the same. But having been with my girlfriend for a few years I see how much work it is. She is basically working from 7 am until 9 pm every single day. This year she said she’d have more time after spring market. Well it’s November and it hasn’t slowed down. It can be a lucrative job for those putting in the work. There is no scheming involved.

"Coming soon"....same as "The first 100 callers will receive..."....same as "be the first to own." Just trying to drive hype. Personally, I ignore all of it. Way too much else to focus my attention on.

-----------------------------Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter

Another reason for “coming soon.” A house on my street had an older lady who developed dementia. Her kids put in care, but have to wait on a judge to declare her incompetent so they can get power of attorney.

The real problem with the Realtor business, is that they make huge commissions, but spend a significant portion of their time soliciting new business. There are just too many Realtors, so there are too many agents chasing the big win instead of servicing existing clients. It is a business ripe for disruption via tech.

Only seen it done once, nearby, older house.As soon as I saw it I went to the realtors web site and found it, no details and one photo. It was listed at DOUBLE what I thought it was worth. I was right... it sold for roughly half of the listing price a few months later.